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Below is an Interesting article I found, which says that.....Do not
4 ~/ D9 {8 k' Hexpect much from Crude Oil producers and future is not with the 8 u. O) N/ N* k* W
companies producing Jet fuels but Biofuels. Also no wonder if some of - C$ ]5 {) w9 t/ u1 ^
these oil producer will go bankrupt or out of the business even if I. w' i1 B+ M, D X
crude prices improves. This implies also to good names such as Shell, 5 h! P( I9 F% u6 r# W0 ~
EXXON, BG, BP, Cheveron ....xyz.. oils 4 M X3 \7 F W% W2 b
8 U7 Y% _/ _" }2 z$ |6 U kRecently OPEC reduced crude oil production twice over just a few
) h2 L: e* \; Q( P# @" [4 }4 omonths. There are three wars going on in Gaza, Iraq and Afghandistan.
9 I& P2 U& @4 d4 d3 n* OA year ago these things would have spiked the price of crude oil by at
7 Q4 m& N$ M5 d* xleast $50.00 per barrel. Today, oil price declined by a record amount.
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There are several reasons the price of oil is decreasing in the face
' R, b, N& ?# I* T. G, Eof so much news. These reasons are: 1 K5 k! _6 a# W4 \/ o
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1. New oil has been found in Canada, Montana, North & South Dakota and ! M) g4 J% x/ y2 C: v
in the ocean near Brazil. Each of these oil fields has more oil than
) d+ {, N9 |' b0 ~ ZArabia. : F+ G; V) q' t: ^5 z* i5 v! W
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2. New natural gas has been found in Pennsylvania and West Virginia.
7 _( R& g( Z$ k3 q/ R9 r/ gThis is the largest find in North America. # N4 K, s4 O( q/ J. v
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6 \7 ?+ j* Y& [+ B' d# n3. New methods of injecting CO2 and surfactants into oil wells is
2 P5 L( s @7 I+ qbeing used to double their output.
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& w4 Y7 L7 O1 H5 v4 t; ?4. Production of bio-fuels is beginning to reach critical mass. Bio ; K+ A4 U4 z- v/ e4 v
fuel is being produced from many plants and algae. The production
7 m& d( Y+ {7 Q* S* R9 lpotential per acre in some cases is astounding. Many countries are ) a2 @2 e) i/ L. U K" g
racing to produce bio fuels. $ e# F0 ^; q0 n+ S+ G* y1 M8 K7 B
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5. Virtually every restaurant in the US and all food processing plants
: w: P' ^! H, ]) d& Iare now selling their used oil to bio-diesel producers. Every pork, * I9 u8 L# G$ v' U/ o
cattle, turkey and chicken processing plant will soon sell their fat $ ~5 |3 _2 a: b& { Q- Y5 T3 I7 ?
to bio-diesel producers. One pork processing plant in Oklahoma is / `* f- t: d5 J+ d" N0 W: _( A7 E
producing 30,000 gallons of bio-diesel per day from pork fat. % T9 X' z4 u. G8 D: c
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6. There are 99 nuclear reactors in various stages of planning and & Z3 `9 U+ g# [3 c1 D
construction around the world at this time. Several hundred more are # w) X0 h7 o3 ` H' \
expected to be built in the future. Much of the energy they produce " z; w& j2 C' O, J0 M
will replace oil. 8 T; L% k& l8 ^
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1 k7 U& R( L3 T7. Every company in any form of transportaion business is replacing
, h q+ }1 t) C' f6 ]2 U: ]older equipment such as trucks, airplanes, train engines, ships, etc.
9 B$ f% f0 ?$ t3 z( n- k" Bwith new more fuel efficient equipment. Airlines and railway companies
1 C& J5 ~: U0 V1 U* Ware experiencing 20% to 25% better fuel econony with the new
# K) u7 u1 E7 J9 ?1 B, dequipment.
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8 m5 H( ]- Q; L9 z3 {5 H9 AAirlines are flying airplanes with bio-fuel. They are finding the bio- - T* t) U3 j4 M5 P
fuel is cleaner and performs better than jet fuel.
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8. Cities and counties throughout the US are selling the rights to
. ^/ z' H* S: }3 Acapture methane gas from landfills. This is a huge source of gas 1 @; Z5 T+ y2 a+ l4 R) [6 a) {
available at very little cost or risk. The gas is displacing crude
' M( \/ @1 O4 G* G2 Toil.
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% x3 q+ z; I6 M+ c1 j9. Coal is being transformed into a clean burning liquid fuel. The CO2
/ ]) ?! V( V4 W ~$ h3 m, a4 q: Lproduced as a byproduct is sold to oil companies for injection into
4 p! u; i. p j) N/ b3 s$ yoil wells.
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}& ?/ \9 L3 u10. Solar, wind and ocean energy is displacing oil as an energy
& C, e3 o- @4 ~ [source. Three new wind turbines are being erected every day in the US. 7 ^" d1 x, w4 q- \+ J2 ~
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' w: C* K& l1 K# v5 R+ w$ r# H9 c- z3 GEach of the above by itself will not make a large difference in the
6 W$ |1 ]- v* yprice of crude oil but the sum of all of them together is world
; ^. h2 ]2 r6 Ychanging. The important thing is that OPEC no longer has the ability v' o C: A. J3 {" c
to control oil prices. 9 A; N2 J8 R5 X) |+ _
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With the above scenario, I still believe that there are under ' M, @1 v b5 [" ]
performed OIL companies and probably they are yet to get the justified 9 y7 ?$ U1 D, j' d' x5 m
value ..... , I X f2 j- C4 s3 m
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... ' ^ ~& q O+ p" F& m
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9 `) U0 d+ J1 l. a1 P; X* dThe above articles are from WSJ .............PUBLISHED ON 9TH JAN : ^6 c4 q/ ] s. l
2009 ... FYI-Only |
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